---
schema_version: "secwatch.filing_event.v1"
accession: "0001558370-25-007080"
form_type: "8-K"
ticker: "CLMT"
cik: "0002013745"
company_name: "Calumet, Inc. /DE"
filed_at: "2025-05-09T23:59:59+00:00"
generated_at: "2026-05-22T02:24:41.356994+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# Calumet Q1 net loss $162M, Adj EBITDA $38.1M; accelerates SAF capacity at lower cost

## Summary
- Net loss $162.0M ($1.87 per share) vs $41.6M loss year ago; Adjusted EBITDA $38.1M vs $28.1M.
- Adjusted EBITDA with Tax Attributes $55.0M, including $16.9M Production Tax Credit; MR segment turns positive to $3.3M.
- Received $782M DOE loan funding; closed sale of Royal Purple for $110M; partial redemption of $150M of 2026 Notes.
- Company-wide cost reduction saves $22M YoY; SPS segment Adj EBITDA $56.3M, Performance Brands $15.8M.
- Accelerates SAF capacity: expects 120-150M gallons by Q2 2026 for $20-30M capex, fraction of prior cost.

## SEC filing metadata
- accession: 0001558370-25-007080
- form_type: 8-K
- ticker: CLMT
- cik: 0002013745
- company_name: Calumet, Inc. /DE
- filed_at: 2025-05-09T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/2013745/000155837025007080/0001558370-25-007080-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/2013745/000155837025007080/clmt-20250509x8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001558370-25-007080
- JSON: https://secwatch.observer/filing/0001558370-25-007080.json
- Plain text: https://secwatch.observer/filing/0001558370-25-007080.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.